Alberta is kicking off a new 10-year program to boost investments in the petrochemical sector and to make Alberta more competitive in the global market, Kallanish Energy reports.

The Alberta Petrochemicals Incentive Plan that will be launched this fall is part of Alberta’s Recovery Plan to get Albertans back to work after the coronavirus pandemic.

The program is intended to help create multi-billion-dollar investments for petrochemical projects to strengthen and diversify the province’s economy.

Alberta, already with a strong petrochemical industry, could see investment in the petrochemical sector grow by $30 billion and 90,000 direct and indirect jobs by 2030, Alberta’s Industrial Heartland Association said.

“Alberta is ready to seize the opportunity to become a global destination for petrochemical manufacturing, benefitting all Albertans,” said Dale Nally, associate minister of natural gas and electricity, in a statement.